THE PROSPECT JAPAN FUND LIMITED                        

     (a closed-ended investment company incorporated in Guernsey with registration 
                                     number 28863)                                 

                                    ("the Company")                                

                                      28 July2016                                  

                    ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS                 

    The Company announces that the Annual Report and Audited Financial Statements
    of the Company for the year ended 31st December 2015(the "Accounts") have been
    posted to shareholders.

    In accordance with Listing Rule 9.6.3, a copy of the Accounts has been
    submitted to the National Storage Mechanism and will shortly be available for
    inspection at: www.morningstar.co.uk/uk/NSM

    Enquiries:
    Northern Trust International Fund Administration Services (Guernsey) Limited
    Franczeska King
    Tel:       +44 (0) 1481 745918

    END